Bad data in professional services firms often transcends the CRM. Time and billing data can often be the worst. In many firms, the information in the financial systems is often entered haphazardly by assistants whose primary objective is to get a matter open as quickly as possible so the billing can begin. While this hasty business process is understandable, it also represents a missed opportunity to enter relevant data about Clients such as their company, key contacts and industries.
Compensation systems can compound the problem with companies entered multiple times to facilitate sharing credit. For a firm’s top Clients,
The Data Quality Dilemma
Marketing and business development professionals spend a great deal of time carefully lining up plans to effectively communicate with key contacts. Like dominoes, we align our messages and target our audiences to achieve critical objectives; each communication, each invitation, each interaction carefully placed to reach the desired result.
But one thing can cause even the most effective marketing strategy to topple: bad data. Without clean, correct and complete data, our messages can fall flat, our interactions become ineffective and our results erode.
Big Bad Data
These days, we keep hearing a lot of buzz about big data,
CRM is one of the best technology tools for effective eMarketing and communication with Clients and other contacts. But, as with other aspects of CRM, achieving the desired results often also requires putting effective processes and procedures in place.
In professional services firms, lists for alerts, updates, newsletters, invitations and other communications are typically the primary means for segmenting a firm’s contacts and ensuring that the firm regularly communications with its target audiences to share relevant information and attorney experience and expertise. As a result, in working together with hundreds of top firms to help them achieve CRM and eMarketing success,
The team at CLIENTSFirst has helped hundreds of firms succeed with CRM. A key to that success for many firms involves getting attorneys to use the system or at least share their information. However, as mentioned in our last post, When Attorneys Ask, “What’s In It (CRM) For Me, getting attorney adoption can be challenging unless you can demonstrate that the system will provide them with benefits they really care about.
Based on more than 12 years of experience in working together with top professional services firms, here are some of the key CRM needs that attorneys find most valuable.
Most law firms have a CRM system, but few can say that they are actually getting return on their CRM investment. How much value it provides in a law firm depends on attorney buy-in. If your firm wants to increase adoption, you have to show them not just why CRM is important for the success of the firm, but what’s in it for them. Here are some suggestions for demonstrating real value for your attorneys.
For CRM to succeed in a law firm, the attorneys first need to understand that if they commit some time to it, CRM can make their professional lives easier and less stressful,
Top Benefits of Outsourcing Marketing Technology Support – Part 2: Is Outsourcing Right for Your Firm?
Outsourcing some marketing functions, especially in areas that involve technologies to support marketing and business development, can solve a number of problems and provide important benefits for your firm and team. In our last post, Top Benefits of Outsourcing Marketing Technology Support Part 1, we offered some good examples and a summary of the benefits that firms can gain from outsourcing. But before you determine that outsourcing is right for your firm, consider these key questions to help you decide:
Is Outsourcing Right for Your Firm?
There are many factors to consider before deciding to outsource marketing and business development technology functions.
Firm leaders are always looking for ways to make their organizations more efficient, reduce costs improve business development effectiveness and enhance profitability. To help firms achieve all of these important goals, outsourcing marketing functions can be an excellent option – especially in areas that involve technologies to support marketing and business development.
In over a decade of helping hundreds of firms improve marketing and business development technology processes and efficiency, we have found that outsourcing key functions to trained and experienced professionals can solve a number of problems while also providing important benefits. Here are a few examples:
- Problem: After making a large initial investment in a CRM system,
In our previous post, The Top 10 Challenges to CRM Success and How to Avoid Them – Part 1, we discussed the five challenges that are most often encountered when implementing a CRM. Here are five more that we typically see – along with some best practices and solutions for success:
Successful CRM implementations are not quick, easy or cheap. This is the reason they are also not common. Failure to dedicate adequate resources – including time, money and people – is one of the most frequent missteps. Additionally, expectations regarding the actual costs and time required for a CRM implementation are often unrealistic.
There are a number of issues and challenges that can occur when implementing a CRM that prevent CRM Success. In fact, research from leading industry experts has suggested that up to 70% of CRM implementations may fail to meet expectations. The good news is that CRM Success Is possible – if you can identify potential challenges early and are prepared with solutions.
Based on almost 12 years of consulting experience gained while working together with hundreds of Clients on successful CRM implementations, here are some of the biggest potential challenges we typically see – along with some best practices and solutions for success:
It’s no secret that CRM system implementations can be complex and often problematic – and, as a result, they often have notoriously high failure rates. In fact, research from industry experts indicates that up to 70 percent of CRM implementations may fail to meet expectations.
In helping hundreds of Clients with their CRM implementations over the last 12 years, we’ve observed many of the most common problems – and even a few unique ones. But the one reason that CRM commonly fails to meet expectations actually has very little to do with the CRM technology: it’s that the expectations for CRM success are often wrong.
There are plenty of benefits to be gained by integrating systems with CRM, as we discussed in our last post, “The Benefits of CRM Integration.” So, what are some of the more beneficial CRM integrations when it comes to legal marketing technology? Here are a few:
- eMarketing Data: The value of a CRM system can almost always be enhanced by the integration of an eMarketing system. This can be extremely beneficial to bring in analytics and potential business development activities gathered from email campaigns and events. Often, these integrations have already been built by the system providers,
Even though the entire law firm business model is built around forging long-term relationships and connections, there probably is no other industry with more disconnected systems and data. Legal marketing professionals and technologists are constantly struggling with the challenges caused by juggling so many disconnected systems including: CRM and ERM, eMarketing systems and blogs, websites, intranets and portals, experience databases, proposal generators, social listening and competitive intelligence tools and more. And don’t even get me started on the spreadsheets. All of this can lead to a significant number of people and processes issues.
When, Where and Why to Integrate CRM
When systems are not connected,
Research estimates that up to 63% of CRM systems fail to meet expectations – and a failed CRM implementation can be extremely costly, not just in terms of the financial expense, but also because of the costs in lost time – and credibility. Even more impactful: you don’t often get a second chance at CRM success. This means that it’s critical to select the right CRM system.
The good news is, CRM success is possible. If you simply follow a few critical steps before and during the CRM selection process, you can ensure that you select a system that will help you achieve your organization’s goals,
Since it was first coined in the world of computer science in the 1950s, the phrase “garbage in, garbage out” has been a popular metaphor for flawed, or nonsense data input that produces flawed or nonsense output, aka “garbage.”
For those of us who are old enough to remember when the term was thrown around by computer salespeople or a firm’s resident technology geek, you may also recall what data management was like before before the days of Windows or Mac OS X. Picture black screens filled with green or orange text and a flashing cursor, and typing in pages of commands,
At the risk of sounding like a bunch of Scrooges, we’re going to bring up the annual project that almost all law firm marketers have to deal with – and pretty much any of them dread: The Annual Holiday Mailing Project.
Whether your firm does them electronically or with paper cards (or if you are at one of the really lucky firms, both), so many things go into this annual effort that is ideally aimed at strengthening Client relationships: from decisions around the format to the design, to the artwork and/or animation, to gift or not to gift,